- The majority of music industry revenue is not distributed to artists but to the labels and distribution companies that own them
- Friendable’s flagship offering, in conjunction with the recently acquired Artist Republik and FeaturedX, offers artists a 360-degree platform for music creation, distribution, and marketing – a one-of-a-kind experience
- TuneCore announced that it would be changing its pricing structure, making it more affordable for musicians looking to distribute their music on their own, but has not changed offering to include all of the Fan Pass Live solutions
In the past, artists looking to distribute their music had very few options, and these options were often linked to a relationship with a record label. In 2018, Rolling Stone published an article about how much musicians bring home from the revenue earned in the music industry – 12%. That is not 12% per musical artist, but the industry as a whole. At that time, the industry was valued at $43 billion across on-demand streaming, CD sales, radio play, live events, and advertising. Still, artists only shared a small portion of these earnings ($5 billion) (https://ibn.fm/S0TSp).
One of the biggest pain points faced by independent music artists in the industry today is the high cost associated with creating, distributing, and marketing their music. In July 2020, Friendable (OTC: FDBL) released the Fan Pass Live artist platform and has since grown exponentially, increasing the number of artists and acquiring Artist Republik and FeaturedX in January 2022. Combined, Fan Pass Live now offers a 360-degree artist platform that embraces creation, distribution, and marketing – minus label control, in what can be described as an “anti-label” movement.
The Fan Pass Live offering benefits both artist and fan, creating a space for live performances and exclusive content, community discussion, and more. Artists receive 100% revenue from ticket sales and tips, in addition to monthly contests and other revenue streams, with more coming soon to include NFTs and Metaverse performances. No other company currently offers a 360-degree solution for artists, like Fan Pass Live. Many only focus on production and others on distribution or marketing – not all-in-one like Fan Pass Live.
Other music distribution services are feeling the pressure from Fan Pass Live’s total embodiment of the independent artist experience, changing pricing structures to be more in line with what is being offered elsewhere. For example, the biggest announcement in 16 years for music distribution service TuneCore came last week when the company announced that it would change its subscription pricing structure.
“We’ve spent a year speaking directly to artists and labels about how we can make our service better for them. What emerged is: artists want to be able to test their new music for free before distributing to all services, and they want to release the music they are creating instantly, regularly, and seamlessly with one annual subscription enabling unlimited music distribution,” Andreea Gleeson, TuneCore CEO, stated (https://ibn.fm/Afiuy). “TuneCore’s new program gives self-releasing artists at any stage of their careers the freedom to choose the plan that works best for them, while maintaining the high quality of service TuneCore is known for. With TuneCore Unlimited, artists pay less and earn more.”
Despite the changes in TuneCore’s subscription, artists still gain more when using Fan Pass Live’s 360-degree artist platform with options for one-time or subscription distribution services with no annual fees and 100% of royalties paid to the musician. In addition to low pricing, Fan Pass Live’s promotion offering includes social links, playlisting, PR, radio promo, distribution, ticketed live streaming, and much more – a list unmatched in the industry and unattainable by TuneCore despite changing their pricing structure.
For more information, visit the company’s websites at www.Friendable.com or www.FanPassLive.com.
NOTE TO INVESTORS: The latest news and updates relating to FDBL are available in the company’s newsroom at http://ibn.fm/FDBL
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